Abacus Life, Inc. (NASDAQ:ABL - Get Free Report)'s share price traded up 7.2% during trading on Wednesday . The company traded as high as $7.90 and last traded at $7.86. 218,349 shares changed hands during mid-day trading, an increase of 51% from the average session volume of 144,654 shares. The stock had previously closed at $7.33.
Wall Street Analyst Weigh In
Separately, B. Riley decreased their price objective on Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Abacus Life presently has an average rating of "Buy" and a consensus price target of $14.30.
Read Our Latest Analysis on ABL
Abacus Life Stock Down 0.6 %
The company has a 50 day moving average of $7.60 and a 200-day moving average of $8.18. The company has a market capitalization of $681.85 million, a P/E ratio of -39.11 and a beta of 0.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29.
Abacus Life (NASDAQ:ABL - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $33.21 million during the quarter, compared to analyst estimates of $28.76 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. As a group, equities analysts anticipate that Abacus Life, Inc. will post 0.62 EPS for the current year.
Institutional Trading of Abacus Life
A number of hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. boosted its holdings in Abacus Life by 116.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company's stock worth $19,894,000 after acquiring an additional 1,367,210 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Abacus Life by 23.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company's stock valued at $10,830,000 after acquiring an additional 263,036 shares in the last quarter. Royce & Associates LP lifted its position in Abacus Life by 339.9% in the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock valued at $10,229,000 after acquiring an additional 1,009,431 shares in the last quarter. Mendon Capital Advisors Corp boosted its stake in Abacus Life by 137.1% during the 4th quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company's stock valued at $10,209,000 after purchasing an additional 753,826 shares during the last quarter. Finally, Curi RMB Capital LLC increased its holdings in shares of Abacus Life by 110.7% in the 4th quarter. Curi RMB Capital LLC now owns 1,159,000 shares of the company's stock worth $9,075,000 after purchasing an additional 609,000 shares in the last quarter.
About Abacus Life
(
Get Free Report)
Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.
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